If you’re over the age of 40, there’s a good chance that at some point in your childhood an older relative slipped you $2 bill. Throughout their history, these bills were never widely accepted by the public or used consistently.
But have you ever wondered what that $2 bill is worth now? Because this paper currency is no longer in production, some bills are cashing in at much higher values than you might expect.
History Of The $2 Bill’s Value
Apparently, receiving a $2 bill in the 1920s was considered a jinx — so much so that gambling establishments, such as casinos and racetracks forbade them from being paid out.
Later on, their negative association dissolved, and some American factories purposely paid their employees in $2 bills so they could be used locally. This was done with the hope to demonstrate the importance of the industry to local vendors.
The Department of the Treasury revived the $2 bill for the United States Bicentennial in 1976. The face remained the same, but the back was redesigned to have a vignette of the Declaration of Independence inspired by the famous John Trumbull painting.
Understanding The $2 Bill’s Current Worth
Rarity and demand dictate the value of this special bill. They account for less than .0001% of all currency in circulation, which makes them look — on paper — super rare, but that’s not actually the case for all $2 bills.
Circulated banknotes have been used by the general public and often appear worn and dirty. On the other hand, uncirculated bank notes can appear in mint condition.
Generally speaking, a $2 bill is typically worth $2 if it was produced between 1976 and 2013. Even an uncirculated $2 bill won’t be worth more than face value if it was printed after 1976. However, most $2 bills were created between 1862 and 1918, and these are highly collectible, fetching at least $50 in well-circulated condition. However, if you have one that’s in mint condition that was produced during this time, it might be worth $500 or more. Some uncirculated varieties are valued at more than $1,000.
To get a rough idea of its value, compare your bill’s year to the U.S. Currency auction’s list. Look for any special printings, seal colors and serial numbers. Newer bills contain a green seal while the earliest bills contain red and brown seals.
Don’t Spend It Just Yet
Even if your $2 bill isn’t worth more than a couple bucks, that doesn’t mean you should spend it — and that’s not because it hasn’t increased in value. It’s because people are still suspicious of them. A film called “The Two Dollar Bill Documentary“mentions several incidents of workers thinking they’re being scammed and calling the police on customers attempting to use them.
Also, even if it’s worth more on the collectibles market, it’s still only worth $2 if you spend it at a store. That is if the establishment even lets you pay with it!
Because most people think the $2 bill is worth more than face value, many people have tucked them away in a safe spot over the years. This means there’s a large supply of well-preserved bills out there. Do you have one? Check to see what year it was printed. It might be worth much more than you think!
According to the USCA, if the bill was minted and printed before 1976, it could actually be worth its highest value – as much as $4,500 or more for uncirculated notes from 1890. Although most of those valuable bills range from $550 to $2,500, the values are the same, no matter the red or brown seal.
If the $2 bill was minted and printed before 1976, it would likely be worth more than its face value on the collectibles market. In some cases, it might be worth only $2.25. The highest value is $4,500 or more for uncirculated notes from 1890, although most of those bills range in value from $550 to $2,500.
“What we look at is fancy serial numbers,” Johnston said. “A serial number '1' for a 1976 $2 bill would be worth $20,000 or more. But [for] a majority of those people holding 1976 $2 bills, they are only worth face value. There are very few that actually exceed face value.”
“What we look at is fancy serial numbers,” Johnston said. “A serial number '1′ for a 1976 $2 bill would be worth $20,000 or more. But for a majority of those people holding 1976 $2 bills, they are only worth face value.
According to U.S. Currency Auctions, some versions of the $2 bill are valued at nearly $5,000. The company said $2 bills from 1890 with a brown or red seal could sell for up to $4,500. But that's not all. Some newer versions of the $2 bill could also have a higher value.
“A serial number '1' for a 1976 $2 bill would be worth $20,000 or more. But [for] a majority of those people holding 1976 $2 bills, they are only worth face value. There are very few that actually exceed face value.” Other high-value serial numbers include what collectors call “solid” or “ladders.”
"Out of all the $2 notes that are issued, probably 99% of them are worth face value," Honaker told KEN5. "Over the past five years, more than 100 million two-dollar notes have been printed. So, beyond common."
If your $2 bill dates back to 1886 and has a red seal with a silver certificate, you're in luck. That bill is worth $4,500. A number of other iterations of the $2 bills with a red seal can also fetch well over a $1,000. Bills with brown seals are also very valuable.
Local banks should have $2 bills. If your bank does not have any current inventory, it can order $2 bills from the Federal Reserve Bank. Where can I purchase uncut sheet of currency? You can purchase uncut currency from the Bureau of Engraving and Printing (Off-site).
Generally speaking, a $2 bill is typically worth $2 if it was produced between 1976 and 2013. Even an uncirculated $2 bill won't be worth more than face value if it was printed after 1976.
Currency collectors in the United States are willing to pay up to $150,000 for rare $1 bills that feature a particular printing error, according to the Wealthy Nickel. Batches of dollar bills printed in 2014 and 2016 slipped into circulation after a misprint by the US Bureau of Engraving and Printing went overlooked.
First and foremost, what made this bill exceptional, was an exceptionally low serial number, specifically 00000007 *. In the world of currency collecting, low serial numbers hold a special allure as they signify bills that were among the first few to be printed.
A circulated $2 bill, even if it's from the 1800s, may only be worth a few hundred dollars, the auction service reports. Newer bills, like one printed in 2003, could also have significant value. A $2 bill recently sold at an auction for $2,400, according to Heritage Auction. (It later resold for $4,000.)
“Oddities that can make currency more valuable include currency that was never circulated, printing mishaps, bills with a serial number consisting of the same digit repeated and high-denomination bills that are no longer printed — $500 and above,” said Todd Stearn, founder and CEO of The Money Manual.
A unique combination of eleven numbers and letters appears twice on the front of the note. Each note has a unique serial number. The first letter of the serial number corresponds to the series year.
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